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EURUSD SHORT SETUP BEFORE FED NEWSOn EURUSD, a bearish trend can be observed, with the price retracing to the 50% Fibonacci level and then bouncing three times on a downtrend line, indicating clear short signals. Currently, the price is situated between a supply and a demand zone at the 1.0675 level, with volumes favoring sellers. Therefore, the objective is a short trade with a target of 1.055. It is worth noting that the short position will be confirmed by an initial break below the 1.0635 level. What is your perspective? Happy trading to everyone. Nicola, CEO of forex48 trading academy.
Short
by Forex48_TradingAcademy
SPX500 SHORT SETUP H1 BEFORE FED RATESThe price is currently in a bearish moment at the level of 4270, with a potential bounce zone around 4284, which corresponds to the 50% Fibonacci retracement level and a high-volume trading area. The objective of the short trade is to target 4220, where we have the 61% Fibonacci retracement level with high volumes and a demand zone for support before potentially dropping further to touch 4187. A descent is expected in anticipation of the Fed's interest rate hike next week. Let me know what you think. Happy trading to everyone.
OANDA:SPX500USDShort
by Forex48_TradingAcademy
USDCAD BULLISH TRIANGLEOn USDCAD, we have a bullish setup with the price forming a bullish triangle pattern. The objective is to wait for the price to confirm the pattern with two H1 candles above the daily volumes and for the price to break out and then bounce off the bullish triangle. Therefore, a possible setup involves entering the market around the 1.3445 area, with a target set at 1.3730, as it is currently the most significant supply level, considering that the preceding ones are all fake supplies. Let me know your thoughts. Happy trading to everyone.
Long
by Forex48_TradingAcademy
GBPUSD IT IS READY FOR A LONG SETUPOn GBPUSD, after a trade executed on Friday following the NFP release, which resulted in a 9% gain, we are currently experiencing a completely bearish market, approaching the 1.2350 area where a demand zone is located, along with numerous buying orders. Therefore, I expect a bullish pattern to emerge in that area, leading to a recovery of all the liquidity left in the market on Friday and today. The target is set at 1.2550. Let me know your thoughts. Happy trading to everyone.
Long
by Forex48_TradingAcademy
CHFJPY - FINALLY WE HAVE A LONG SETUPOn CHFJPY, the market is forming a long setup following the Forex48 strategy. The setup is around 153.15, where we have a strong demand zone created on May 18th. Therefore, I expect a retracement at this level before entering a long position with a target of 155.40. There is a supply zone at that level, and the price may even break through it to continue the upward momentum. Let me know what you think. Happy trading to everyone. ❤️Please, support my work with like, thank you!❤️
Long
by Forex48_TradingAcademy